JAKARTA - Logistics firm PT Pura Rajawali Kencana Tbk (PURA) will receive 50 trucks until the end of the year, with the fleet increase expected to boost the company's revenue amid the high demand for delivery during the coronavirus (COVID-19) pandemic.
According to PURA CEO Ariel Wibisono, the funds to purchase the trucks were sourced from the company's IPO proceeds. "In June 13 units were realised, and in September we will take the delivery of 12 units. We expect a total of 50 units to be delivered as of December," he said in a stock exchange filing on Monday (10/8).
In its IPO, which took pleace on January 29, 2020, PURA recorded Rp 185.29 billion in proceeds. Rp 180.38 billion of the funds is allocated for the purchase of trucks, trailers, and car bodies, while the remaining Rp 4.91 billion is allocated for the purchase of vehicle tyres and accessories.
As of August 4, all of the company's IPO proceeds has been used. "We have spent 100% of our IPO proceeds," Mr Wibisono said.
In the second semester (2H) of 2020, Mr Wibisono added, the company will have pocketed a number of business contracts such as delivering ethanol and MSG and transporting light bricks to several areas in Central Java and East Java for the development of infrastructure including pedestrian facilities, sidewalks, and water tunnels. "So far, the company's performance in 2H has been better compared to Q2," he said. (LK/MS)